Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Lease

The components of lease cost for the years ended December 31, 2023, 2022 and 2021 were as follows (in millions):

	2023		2022		2021
Operating Lease Cost	$	387	$	282	$	295
Finance Lease Cost:
Amortization of Lease Assets	33		36		39
Interest on Lease Liabilities	5		6		7
Variable Lease Cost	91		71		63
Short-Term Lease Cost	567		425		257
Total Lease Cost	$	1,083	$	820	$	661

Schedule of Outstanding Lease Assets And Lease Liabilities

The following table sets forth the amounts and classification of EOG's outstanding ROU assets and related lease liabilities at December 31, 2023 and 2022 and supplemental information for the years ended December 31, 2023 and 2022 (in millions, except lease terms and discount rates):

Description	Location on Balance Sheet	2023		2022
Assets
Operating Leases	Other Assets	$	974	$	846
Finance Leases	Property, Plant and Equipment, Net (1)	170		203
Total		$	1,144	$	1,049
Liabilities
Current
Operating Leases	Current Portion of Operating Lease Liabilities	$	325	$	296
Finance Leases	Current Portion of Long-Term Debt	34		33
Long-Term
Operating Leases	Other Liabilities	676		584
Finance Leases	Long-Term Debt	149		182
Total		$	1,184	$	1,095

(1)    Finance lease assets are recorded net of accumulated amortization of $190 million and $157 million at December 31, 2023 and 2022, respectively.

Schedule of Weighted Average Remaining Lease Term And Discount Rate

	2023		2022
Weighted Average Remaining Lease Term (in years):
Operating Leases	5.3		4.9
Finance Leases	5.5		6.5
Weighted Average Discount Rate:
Operating Leases	4.3	%	3.4	%
Finance Leases	2.6	%	2.6	%

Schedule of Cash Paid for Leases

Cash paid for leases for the years ended December 31, 2023, 2022 and 2021 was as follows (in millions):

	2023		2022		2021
Repayment of Operating Lease Liabilities Associated with Operating Activities	$	226	$	199	$	207
Repayment of Operating Lease Liabilities Associated with Investing Activities	172		95		98
Repayment of Finance Lease Liabilities	32		35		37

Schedule of Operating And Finance Non-Cancellable Leases Maturity

At December 31, 2023, the future minimum lease payments under non-cancellable leases were as follows (in millions):

	Operating Leases		Finance Leases
2024	$	363	$	37
2025	213		35
2026	129		30
2027	100		30
2028	99		30
2029 and beyond	222		35
Total Lease Payments	1,126		197
Less: Discount to Present Value	125		14
Total Lease Liabilities	1,001		183
Less: Current Portion of Lease Liabilities	325		34
Long-Term Lease Liabilities	$	676	$	149